New analysis from GraniteShares reveals that on 8 July 2024, Petrofac was the most shorted UK listed company.
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Will Rhind, Founder and CEO at GraniteShares
The international energy services company had 9.86% of its stocks held short by six investment firms, with Astaris Capital Management LLP holding the largest position at 2.51%.
The second most shorted company was Diversified Energy Company, with 7.68% of its stocks held short by eight fund managers. This was followed by Ocado Group and ASOS with 7.17% and 5.57% of the retailers’ stock held short by six and seven fund managers, respectively.
The table shows the largest ten short positions in companies that are listed and trading on the London Stock Exchange.
| Company | Percentage of stock held short | Number of funds shorting the stock |
| Petrofac LTD | 9.86% | 6 |
| Diversified Energy Company PLC | 7.68% | 8 |
| Ocado Group PLC | 7.17% | 6 |
| ASOS PLC | 5.57% | 7 |
| Kingfisher PLC | 5.59% | 5 |
| abrdn PLC | 5.55% | 6 |
| Boohoo Group | 4.32% | 4 |
| Burberry Group PLC | 4.21% | 3 |
| Alphawave IP Group PLC | 4.18% | 5 |
| Barratt Developments PLC | 3.76% | 5 |
Source: London Stock Exchange, updated on July 8, 2024
The analysis also revealed GLG Partners LP held the highest number of short positions on UK listed companies of any investment firms, with 42 active shorts. This was followed by Marshall Wace LLP, which held 30 active short positions.
The table shows the 10 fund managers with the highest number of short positions on companies that are listed and trading on the London Stock Exchange.
| Fund Manager | Number of short positions |
| GLG Partners LP | 42 |
| Marshall Wace LLP | 30 |
| Qube Research & Technologies Limited | 19 |
| JPMorgan Asset Management (UK) Ltd | 14 |
| BlackRock Investment Management (UK) Limited | 13 |
| ActusRayPartners Limited | 9 |
| Arrowstreet Capital, Limited Partnership | 8 |
| Citadel Advisors LLC | 8 |
| Millennium International Management LP | 7 |
| AQR Capital Management, LLC | 6 |
Source: London Stock Exchange, updated on July 8, 2024
Will Rhind, Founder and CEO of GraniteShares, said: “Petrofac remains the UK’s most shorted stock, signalling that investors expect further price declines. However retailers continue to dominate the list of most shorted stocks, accounting for half of the top 10, with some of the largest hedge funds and asset managers poised to profit from their falling share prices.
“Shorting has long been a powerful tool in the arsenal of institutional investors, but we have seen a rise in retail traders using short ETPs like ours to navigate bearish markets. While some retreat to the sidelines, sophisticated investors see opportunity to increase their exposure and potential returns through leverage, and hedge against long positions.”
Source: ETFWorld.co.uk
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